Oil News

U.S crude oil inventories come out lower than expected at -0.4M

U.S crude oil inventories come out lower than expected at -0.4M

Crude oil is trading at $76.00 as of 21:20pm, GMT, with a bullish trend

U.S. crude oil inventories logged an unexpected decline last week asimports fell, while distillate fuels posted a larger-than-expecteddraw, Energy Information Administration data showed on Thursday.Wednesday’s API data showed that U.S. gasoline inventories were up by667,000 barrels and distillates down by 3.4 million barrels. The weeklyEIA and API oil data were both issued a day later than usual due toMonday’s Martin Luther King Jr. holiday. Crude oil is trading at $76.00as of 21:20pm, GMT, with a bullish trend. Crude